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Ripple and Riot: Dispute Over Bitcoin Reserve

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by Giorgi Kostiuk

9 months ago

The Strategic Bitcoin Reserve (SBR) initiative has sparked a dispute between Ripple Labs and Riot Platforms.

Ripple and Riot Platforms Conflict

Pierre Rochard, VP of Research at Riot Platforms, believes Ripple directs its efforts towards political influence to prevent the SBR from being established. He argues that Ripple focuses on protecting XRP rather than supporting Bitcoin.

Ripple's Defense and Accusations

Rochard points out that the real challenge to SBR doesn't come from financial regulators but from Ripple's aggressive lobbying. He suggests that Ripple seeks to control the crypto narrative and advocate for central bank digital currencies on its platform.

Garlinghouse refuted these claims, stating that Ripple's activities advance the potential for establishing a Bitcoin reserve.CITE_W_A

Impact on Crypto Future

Ripple’s defense highlights the complex dynamics surrounding the push for a Bitcoin reserve and its broader implications for the future of crypto. Trump's administration continues to strengthen its presence in the crypto world, appointing pro-crypto individuals to key regulatory positions, aligning with campaign promises.

The situation around creating a Bitcoin reserve reveals complex interrelations among major industry players and their strategic interests.

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